TRxADE Health (NASDAQ: MEDS), a health-services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the United States, is reporting its financial results for the year ending Dec. 31, 2022. Highlights of the report include consolidated revenues of $11.4 million, a 16.4% increase compared to FY 2021; an increase in gross profits of $0.7 million for FY 2022 compared to 2021; and a slight drop in operating expenses. Other noteworthy numbers for 2022 include the TRxADE platform increasing its registered users by 8% and an improvement in gross margin for TRxADE Prime, from a negative 12% in 2021 to a positive 1% in 2022. “[The year] 2022 was an exciting and challenging time for TRxADE,” said TRxADE Health founder and CEO Suren Ajjarapu in the press release. “We continue to focus the company’s strategic plans and partnerships, working towards creating sustainable value for our stockholders. I am pleased with the growth we have experienced in our TRxADE platform. We continue to achieve key milestones in our internal roadmap with a focus on innovation and development through our various complementary growth opportunities.”
To view the full press release, visit https://ibn.fm/w7Wbb
About TRxADE Health Inc
TRxADE Health is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the United States. The company operates the TRxADE drug-procurement marketplace serving more than 14,400 members nationwide, fostering price transparency and, under the Bonum Health brand, offering patient-centric telehealth services. For more information about the company, please visit www.Trxade.com and www.BonumHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS
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